After a long wait, the day of the Mary update has finally arrived, and the Cardano (ADA) price doesn’t seem too excited.
At the time of writing ADA is trading at $ 1.2690, accumulating a slight gain of 1.22% in the last 24 hours, and 29.08% in the last 7 days.
Price may have already been discounting much of the spike that occurs when improvements hit the web.
However, the community continues to wait with high expectations for the update to occur, which could be sustaining the bullish rally that the cryptocurrency brings.
It’s only hours until Mary reaches the Cardano network. The final details are being fine-tuned for today’s hard fork. What’s in store for the price? Let’s see it in the analysis below.
The weekly chart ADA vs USD shows us a clear upward direction in the medium term, with a fairly developed momentum that has not yet given way to a healthy correction.
This week that is just beginning the price has parked a bit, but knowing the general momentum, plus an update on the way, I do not think it is very likely that a major correction will occur anytime soon.
It looks like we will see Cardano further extending the current momentum of the medium-term trend, making small corrections along the way to pick up demand.
Short-term trend of ADA
After reaching new all-time highs, the price of Cardano managed to resume its short-term uptrend, and quickly a correction of it began.
Now we see ADA quite asleep, even though the countdown to the update is about to end.
Analyzing the big picture, we can deduce that the short-term correction ended after getting support at $ 1.11. If so, we should soon see the price setting new records.
What do you think? Will the price of Cardano (ADA) be responding upward when the update arrives? Or, on the contrary, you do not consider that it is something that will affect the price. Let us know your opinion in the comments!
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